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ELBERON BATHING CO., INC. v. AMBASSADOR INSURANCE CO., INC.

77 N.J. 1 (1978)

389 A.2d 439

ELBERON BATHING CO., INC., A CORPORATION OF THE STATE OF NEW JERSEY AND ELBERON BATHING CLUB, A CORPORATION OF THE STATE OF NEW JERSEY, PLAINTIFFS-RESPONDENTS, v. AMBASSADOR INSURANCE CO., INC., A CORPORATION OF THE STATE OF NEW JERSEY, DEFENDANT-APPELLANT.

The Supreme Court of New Jersey.

Decided June 8, 1978.

Attorney(s) appearing for the Case

Mr. Joel N. Werbel argued the cause for appellant (Messrs. Methfessel and Werbel, attorneys).

Mr. Philip Lindeman, II, argued the cause for respondents (Messrs. Hellring, Lindeman, Landau and Siegal, attorneys).

The opinion of the court was delivered by CONFORD, P.J.A.D. (temporarily assigned).

The principal question on this appeal concerns the valuation methods to be used in ascertaining the "actual cash value" of a partial loss under the Standard Form Fire Insurance Policy, N.J.S.A. 17:36-5.15 et seq. We are also required to determine whether failure to apply the appropriate standard is sufficient cause to set aside an appraisal award. The appeal arises in...

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